IMF Cuts Russia Growth Forecast

Economy Now Expected to Grow 2% in 2014

By
Andrey Ostroukh

Dec. 10, 2013 6:22 am ET

MOSCOW—The International Monetary Fund has again lowered its growth forecast for Russia and said the central bank should consider a tighter monetary policy if it wants to tame stubbornly high inflation.

The IMF said Tuesday that it now expects Russia's economy to expand by 2% in 2014, slashing its forecast for the fourth time this year from its initial call for 3.8% growth. This is below the latest forecast of 2.5% growth made by the economy ministry, which admitted that stagnation will continue.